One who finds a thing lost is not bound to take charge of it but, if the person does so, the person is thenceforward a depositary for the owner with the rights and obligations of a depositary for hire. Notwithstanding chapters 36-22 and 47-30.1 or any other provision of law, an individual who finds lost personal property or money and places the property or money in the custody of a law enforcement agency is entitled to assume ownership of the property or money if the property or money is not claimed by its owner within two years after the property or money was placed in the custody of the law enforcement agency.

If the finder of a thing knows or suspects who is the owner, the finder must give such owner notice of the finding with reasonable diligence. If the finder fails to do so, the finder is liable in damages to the owner and has no claim to any reward offered by the owner for the recovery of the thing nor to any compensation for the finder's trouble or expenses.

The finder of a thing is entitled to compensation for all expenses necessarily incurred by the finder in its preservation and for any other services necessarily performed by the finder about it and to a reasonable reward for keeping it.

The finder of a thing may sell it, if it is a thing which is commonly the subject of sale, when the owner, with reasonable diligence, cannot be found, or, being found, refuses upon demand to pay the lawful charges of the finder in the following cases:

1. When the thing is in danger of perishing or of losing the greater part of its value; or

2. When the lawful charges of the finder amount to two-thirds of its value.